According to Stratistics MRC, the Global Elastomers Market accounted for $23.74 billion in 2015 and is poised to reach $36.0 billion by 2022 at a CAGR of 6.1% during the forecast period 2015 to 2022. In the current scenario rubber is being integrated in our habitat, the advancement of this natural product in the market is now shifting towards elastomers. Rising cost effectiveness and increasing adaptability are the major drivers of the market. Moreover, growing demand from automotive industry, advancement in processing industry and increasing purchasing power in the developing economies are the key drivers of the market. Whereas volatility of crude oil prices and product commoditization are hampering the market growth.
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The thermoplastic elastomers segment is likely to grow diversely in the market due to the par range of its applications and increasing R&D efforts. The Asia-Pacific region being the dominating market is expected to grow at a faster rate. Additionally, China will be playing the major role in the market driven by the growing use of thermoplastic elastomers.
Some of the major players of the Elastomers market include Dupont, Kraton Polymers, Ashland Inc., Michelin, Goodyear Tire & Rubber Co, Lcy Chemical Corp., Nantong Huili Rubber Co. Ltd., Sibur, Japan Synthetic Rubber Co. Ltd., Zeon Corp., BASF SE, Cummins Inc., Schulman Incorporated, The Dow Chemical Co. and Evonik Industries.
Rest of Europe
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Some Points From List of Tables :
1 Global Elastomers Market Outlook, By Region (2013-2022) ($MN)
2 Global Elastomers Market Outlook, By Product (2013-2022) ($MN)
3 Global Elastomers Market Outlook, By Thermoset Elastomers (2013-2022) ($MN)
4 Global Elastomers Market Outlook, By Natural Elastomers (2013-2022) ($MN)
5 Global Elastomers Market Outlook, By Fluorocarbon Elastomers (FKM) (2013-2022) ($MN)
6 Global Elastomers Market Outlook, By Nitrile rubber (NBR) (2013-2022) ($MN)
7 Global Elastomers Market Outlook, By Ethylene Propylene (EPR) (2013-2022) ($MN)
8 Global Elastomers Market Outlook, By Thermoplastic Elastomers (2013-2022) ($MN)
9 Global Elastomers Market Outlook, By Elastomeric alloys (TPV) (2013-2022) ($MN)
10 Global Elastomers Market Outlook, By Polyolefin blends (TPO) (2013-2022) ($MN)
11 Global Elastomers Market Outlook, By Styrenic block copolymers (TPS) (2013-2022) ($MN)
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